Billionaire Tim Draper Stands By Bullish $250,000 Bitcoin Price Target For 2022

patispace

member

Activity: 183

Merit: 11

Quote from: Tapyaks72 on September 26, 2018, 04:18:29 PM

Quote from: thecodebear on September 26, 2018, 03:44:05 PM

I'd say no, because in 2022 it will likely be between the next boom and the one after. Next boom in ~2020 will likely go to ~$100k. So 2022 could very well be in the build-up phase for the following boom so I think in 2022 we'll see a price between $50k and $100k for most of the year, with the price rising. I think $250k MIGHT be possible in 2023 or 2024 though.

All of as here is just an assumption, but for me bitcoin has a wider scoop it is global there are countries, business establishment, who now making study how bitcoins and crypto currency can be used in their businesses, because that demand will spike any time.

I have no doubt that cryptocurrencies will play a fundamental role in the economy in 2022, and its use will be widely disseminated in the formal economy in the near future. What remains unclear to me is if bitcoin will remain for many years as the preferred cryptocurrency to carry out the daily transactions that the future economy will demand, because at the end of 2017 when bitcoin was put to the test by the great euphoria that prevailed, it did not seem to respond well to massive use, which caused the transactions to take several days to be confirmed, and the fees were extremely expensive. Therefore I am not sure if the bitcoin will be able to survive succesfully the new wave of cryptocurrencies that is coming, more efficient and flexible than the current cryptos, otherwise I do not see how bitcoin can continue to dominate the market to reach such a high price.

Kevin77

legendary

Activity: 1652

Merit: 1057

Quote from: Deamindit on September 25, 2018, 08:13:25 PM

We will see 50.000 at the middle of 2019. Mark my words.
We will see Bitcoin ETF earlier, then price will rise until middle of 2019.

There is actually no need marking your words, as one thing I know for sure, what you have just said will always be a speculation and assumption as no one can see exactly what the future holds. Simply more like you trying to state what you would like to see happen, come 2019.

In a market I have always known, what would be will be and as long as you stay focused, monitor the trends and make decisions based on what you see, then you would not have a problem. 2019 may come with good surprised but however it comes, it is one thing to just be patient and wait for it and then act based on how you perceive it.

Osarman

hero member

Activity: 952

Merit: 503

Quote from: honghe99 on September 26, 2018, 02:23:09 AM

I have some personal opinions to express, please forgive me English is not very good!
Billionaire Tim Draper is not the same as our ordinary people. It enters the market to play the role of whales and sharks, and we are just their food!

Quite some personal opinion but I really feel you. Your English is not that bad anyway, at least better than a lot I have seen on this thread. I totally understand with you that Tim Draper is just another whale that is accumulating the dips and then try to dish out to the community how he really want to see the price move by 2022, but technically, even being a whale or not, it is something that is actually reasonable for us to see happen and it depends on each individual if they want to get fed on or if they actually are smart enough to understand that whichever way, to beat the whales to it, is to always take advantage of the dips and sell the peaks. Although, the part where you said we are just foods is quite hilarious and somehow for real for most part of it.

Tapyaks72

member

Activity: 490

Merit: 28

Quote from: thecodebear on September 26, 2018, 03:44:05 PM

I'd say no, because in 2022 it will likely be between the next boom and the one after. Next boom in ~2020 will likely go to ~$100k. So 2022 could very well be in the build-up phase for the following boom so I think in 2022 we'll see a price between $50k and $100k for most of the year, with the price rising. I think $250k MIGHT be possible in 2023 or 2024 though.

All of as here is just an assumption, but for me bitcoin has a wider scoop it is global there are countries, business establishment, who now making study how bitcoins and crypto currency can be used in their businesses, because that demand will spike any time.

thecodebear

hero member

Activity: 2240

Merit: 848

I'd say no, because in 2022 it will likely be between the next boom and the one after. Next boom in ~2020 will likely go to ~$100k. So 2022 could very well be in the build-up phase for the following boom so I think in 2022 we'll see a price between $50k and $100k for most of the year, with the price rising. I think $250k MIGHT be possible in 2023 or 2024 though.

zazarb

legendary

Activity: 3542

Merit: 1548

Get loan in just five minutes goo.gl/8WMW6n

Quote from: justspare on September 25, 2018, 01:51:16 PM

Quote from: LeGaulois on September 22, 2018, 11:42:15 AM

$250k in 4 years by now is too much but I won't complain if it becomes a reality, trust me :p
But theory and practice are different. It's still a speculation and it will stay until proven. No idea why people don't call me Bitcoin analyst expert when I make such claims

As it is now, all we have in our hands is a theory and with the chart posted by WindFury and the consistent increase analysis Franky1 posted, I guess it seems like something that is quite close to being possible. However, we really do not know how the future is always going to play out but at least; it is worth keeping up the hope and optimism till then for those who really do not have any single idea why they invested in the market in the first place and the essence of focusing on the long term.

Quote from: zazarb on September 25, 2018, 01:15:17 PM

Theoretically, everything seems to be possible, and a ~3.466x price increase is really normal, but from the point of realistic view there is little promise that everything will be so good, and 250,000% in 2022 seems a little to much.

In the past bitcoin had brought all the theoretical into reality hence why not in coming days. In my speculation bitcoin may test $1 million levels too by 2022. Yes, it is still within Franky's calculations. He revealed the minimum of every year so far but the maximum is as per demand still. For example, as per his calculations the optimum price of 2013 is $12.13 but in open market we had experienced $1200 in 2013. (I assume you made a typo of % instead of $ Wink

).

I partly agree with your opinion, your facts are true, but I'm left with my opinion, that Bitcoin price will not reach 250000$ in 2022. Of course, this is just my opinion.

honghe99

member

Activity: 406

Merit: 10

Buy, sell and store real cryptocurrencies

I have some personal opinions to express, please forgive me English is not very good!
Billionaire Tim Draper is not the same as our ordinary people. It enters the market to play the role of whales and sharks, and we are just their food!

Wind_FURY

legendary

Activity: 2898

Merit: 1823

Quote from: audaciousbeing on September 25, 2018, 06:43:06 AM

Quote from: Wind_FURY on September 25, 2018, 02:34:56 AM

Quote from: audaciousbeing on September 25, 2018, 01:35:07 AM

When predictions like this are made, without first sounding pessimistic, I always want to know the how but unfortunately, its always full of empty promises. Reading through, I was not disappointed as everything he quoted to have said was just based on his subjective view without any basis for it to happen. I guessed he is projecting that by 202, the amount of development that would have happened, the amount of companies that would have adopted and most importantly the amount of countries that would have been open to both bitcoin and blockchain. Doing that is not a problem, but ignoring the challenges and the downward trend does not erase them which is exactly what he is doing.

But come on, 2022 is four years from now with such huge multiple percentage increase, its just a confirmation that the world is yet to see the biggest bubble.

If you believe that Bitcoin is only good for trading to make more fiat for your bank account, then maybe it will be the biggest bubble the whole world will ever see.

But if you believe in Bitcoin as hard money, an asset for true sovereign ownership, a means for censorship resistance, and a good store of value, only then will you see that Bitcoin is no bubble.

I was only making a sarcastic comment. Imagining how bitcoin as a currency and an assets that goes beyond the trading aspect of it, could increase from $6,000+ to $250,000 within four years is going to be a long run without taking into consideration the challenges that comes along with such huge increase, is nothing but a mere wishful thinking.

But the more "challenging" years were during 2009 - 2013, when no one believed in Bitcoin. But it still went from nothing to $1000, before it crashed, and then went to $20,000 after that.

Would you have "imagined" Bitcoin to reach $20,000 after MtGox? I believe your answer would be no because, I admit, it was hard to "imagine". But today, it is not that hard in my opinion.

Quote

There is need to be practical here percentage growth is possible but at some point, it cannot no longer be growing at an incremental rate as nothing grows forever. During the all time high of 2016, its was something that everyone was joyous about but at the same time skeptical about how its going to be sustained which the market failed to keep up with eventually because there are factors outside the control of enthusiasts that influence the crypto market and today, people who bought at the time who are hopeful that things will turn out well, are still waiting.

You might be right. But I am confident that Bitcoin's upward volatility will prove that wrong.

I will see you in the next having. Cool

Deamindit

newbie

Activity: 89

Merit: 0

We will see 50.000 at the middle of 2019. Mark my words.
We will see Bitcoin ETF earlier, then price will rise until middle of 2019.

justspare

hero member

Activity: 1022

Merit: 538

Quote from: LeGaulois on September 22, 2018, 11:42:15 AM

$250k in 4 years by now is too much but I won't complain if it becomes a reality, trust me :p
But theory and practice are different. It's still a speculation and it will stay until proven. No idea why people don't call me Bitcoin analyst expert when I make such claims

As it is now, all we have in our hands is a theory and with the chart posted by WindFury and the consistent increase analysis Franky1 posted, I guess it seems like something that is quite close to being possible. However, we really do not know how the future is always going to play out but at least; it is worth keeping up the hope and optimism till then for those who really do not have any single idea why they invested in the market in the first place and the essence of focusing on the long term.

Quote from: zazarb on September 25, 2018, 01:15:17 PM

Theoretically, everything seems to be possible, and a ~3.466x price increase is really normal, but from the point of realistic view there is little promise that everything will be so good, and 250,000% in 2022 seems a little to much.

In the past bitcoin had brought all the theoretical into reality hence why not in coming days. In my speculation bitcoin may test $1 million levels too by 2022. Yes, it is still within Franky's calculations. He revealed the minimum of every year so far but the maximum is as per demand still. For example, as per his calculations the optimum price of 2013 is $12.13 but in open market we had experienced $1200 in 2013. (I assume you made a typo of % instead of $ Wink

).

zazarb

legendary

Activity: 3542

Merit: 1548

Get loan in just five minutes goo.gl/8WMW6n

Quote from: franky1 on September 22, 2018, 01:12:05 AM

3 years hmm

$6k to $250k.. hmm

math time
if bitcoin is to stay at $6 this year
it only needs to *3.46681 each year
end of 2018 $6000
end of 2019 $20800.86
end of 2020 $72112.63
end of 2021 $250000.79

i think a ~3.466x price increase is normal, healthy and achievable after all if we done the same number historically
EG
lets take a conservative low of 2012 of just $3.50 and then yearly *3.466 it
2021: $252,653.36
2020: $72,894.79
2019: $21,031.39
2018: $6,067.91
2017: $1,750.70
2016: $505.11
2015: $145.73
2014: $42.05
2013: $12.13
2012: $3.50

seems to play out alright (ignoring the volitile wobbles of a few ATH and just thinking of the lows of the years.)
so id say its a healthy estimate for a sustainable LOW value increase

Theoretically, everything seems to be possible, and a ~3.466x price increase is really normal, but from the point of realistic view there is little promise that everything will be so good, and 250,000$ in 2022 seems a little to much.

audaciousbeing

hero member

Activity: 1330

Merit: 569

Quote from: Wind_FURY on September 25, 2018, 02:34:56 AM

Quote from: audaciousbeing on September 25, 2018, 01:35:07 AM

When predictions like this are made, without first sounding pessimistic, I always want to know the how but unfortunately, its always full of empty promises. Reading through, I was not disappointed as everything he quoted to have said was just based on his subjective view without any basis for it to happen. I guessed he is projecting that by 202, the amount of development that would have happened, the amount of companies that would have adopted and most importantly the amount of countries that would have been open to both bitcoin and blockchain. Doing that is not a problem, but ignoring the challenges and the downward trend does not erase them which is exactly what he is doing.

But come on, 2022 is four years from now with such huge multiple percentage increase, its just a confirmation that the world is yet to see the biggest bubble.

If you believe that Bitcoin is only good for trading to make more fiat for your bank account, then maybe it will be the biggest bubble the whole world will ever see.

But if you believe in Bitcoin as hard money, an asset for true sovereign ownership, a means for censorship resistance, and a good store of value, only then will you see that Bitcoin is no bubble.

I was only making a sarcastic comment. Imagining how bitcoin as a currency and an assets that goes beyond the trading aspect of it, could increase from $6,000+ to $250,000 within four years is going to be a long run without taking into consideration the challenges that comes along with such huge increase, is nothing but a mere wishful thinking. There is need to be practical here percentage growth is possible but at some point, it cannot no longer be growing at an incremental rate as nothing grows forever. During the all time high of 2016, its was something that everyone was joyous about but at the same time skeptical about how its going to be sustained which the market failed to keep up with eventually because there are factors outside the control of enthusiasts that influence the crypto market and today, people who bought at the time who are hopeful that things will turn out well, are still waiting.

Wind_FURY

legendary

Activity: 2898

Merit: 1823

Quote from: audaciousbeing on September 25, 2018, 01:35:07 AM

When predictions like this are made, without first sounding pessimistic, I always want to know the how but unfortunately, its always full of empty promises. Reading through, I was not disappointed as everything he quoted to have said was just based on his subjective view without any basis for it to happen. I guessed he is projecting that by 202, the amount of development that would have happened, the amount of companies that would have adopted and most importantly the amount of countries that would have been open to both bitcoin and blockchain. Doing that is not a problem, but ignoring the challenges and the downward trend does not erase them which is exactly what he is doing.

But come on, 2022 is four years from now with such huge multiple percentage increase, its just a confirmation that the world is yet to see the biggest bubble.

If you believe that Bitcoin is only good for trading to make more fiat for your bank account, then maybe it will be the biggest bubble the whole world will ever see.

But if you believe in Bitcoin as hard money, an asset for true sovereign ownership, a means for censorship resistance, and a good store of value, only then will you see that Bitcoin is no bubble.

nydiacaskey01

legendary

Activity: 1834

Merit: 1036

Looks like the formula used to attain $252,653 USD is 246% increase every year and if that formula is correct $252,653 USD is really possible. Last years growth if you start from December 16 2016 to December 18 2017 it shows that growth is 2,286 %. That is $780 USD at December 16 2016 and $18,615 USD at December 18, 2017.

audaciousbeing

hero member

Activity: 1330

Merit: 569

When predictions like this are made, without first sounding pessimistic, I always want to know the how but unfortunately, its always full of empty promises. Reading through, I was not disappointed as everything he quoted to have said was just based on his subjective view without any basis for it to happen. I guessed he is projecting that by 202, the amount of development that would have happened, the amount of companies that would have adopted and most importantly the amount of countries that would have been open to both bitcoin and blockchain. Doing that is not a problem, but ignoring the challenges and the downward trend does not erase them which is exactly what he is doing.

But come on, 2022 is four years from now with such huge multiple percentage increase, its just a confirmation that the world is yet to see the biggest bubble.

Wind_FURY

legendary

Activity: 2898

Merit: 1823

Quote from: jseverson on September 24, 2018, 03:50:37 AM

Quote from: LeGaulois on September 22, 2018, 11:42:15 AM

But theory and practice are different. It's still a speculation and it will stay until proven. No idea why people don't call me Bitcoin analyst expert when I make such claims

I completely agree that this is all completely speculation, but Tim Draper isn't really considered an analyst. The only reason people care about his predictions is because he predicted that Bitcoin would hit $10k in 3 years back in 2014, which ended up being true. He's really just a permabull who got lucky with an almost equally absurd prediction in the past. Getting an absurd prediction right kind of makes his newer ones seem less absurd, but I'm not holding my breath for it lol.

Then what would be the maximum price, that you can imagine, for Bitcoin in 4 years?

If your maximum price is less than 6 digits, then I believe you are short-changing those coins in your wallet. Haha.

wuvdoll

legendary

Activity: 1442

Merit: 1025

Quote from: Pursuer on September 22, 2018, 01:26:13 AM

"stands by"? LOL.
it seems like news sites are running out of bullshit to publish so they sometimes start re-posting the same old news again. specifically since they move with the current and the current market current! is a rising one (even if it is a small one) so they started pulling out old news.
nothing has changed for predictions like this to change. $250k is still as possible as it was before. no more, no less. and it is mainly based on extrapolation of some data and based on history of bitcoin and its spikes.

They have always run out of bullshit to post a long time ago since they never end up having any real news at the end of the day though. You are totally right with $250k being possible at that point in time he mentioned, if all things being equal and looking at the 3.466 incremental percentage franky1 made clear and in that case, probably by then, without any craziness in the market, one might see $252,653.36 in even 2021.

Moreover, all this would just be assumptions anyway as we all do not know what the future can hold anyway, but it sounds a lot plausible.

jseverson

hero member

Activity: 1834

Merit: 759

Quote from: LeGaulois on September 22, 2018, 11:42:15 AM

But theory and practice are different. It's still a speculation and it will stay until proven. No idea why people don't call me Bitcoin analyst expert when I make such claims

I completely agree that this is all completely speculation, but Tim Draper isn't really considered an analyst. The only reason people care about his predictions is because he predicted that Bitcoin would hit $10k in 3 years back in 2014, which ended up being true. He's really just a permabull who got lucky with an almost equally absurd prediction in the past. Getting an absurd prediction right kind of makes his newer ones seem less absurd, but I'm not holding my breath for it lol.

But yeah, if he gets lucky again I'm not complaining either lmao.

Wind_FURY

legendary

Activity: 2898

Merit: 1823

Quote from: franky1 on September 22, 2018, 01:12:05 AM

3 years hmm

$6k to $250k.. hmm

math time
if bitcoin is to stay at $6 this year
it only needs to *3.46681 each year
end of 2018 $6000
end of 2019 $20800.86
end of 2020 $72112.63
end of 2021 $250000.79

i think a ~3.466x price increase is normal, healthy and achievable after all if we done the same number historically
EG
lets take a conservative low of 2012 of just $3.50 and then yearly *3.466 it
2021: $252,653.36
2020: $72,894.79
2019: $21,031.39
2018: $6,067.91
2017: $1,750.70
2016: $505.11
2015: $145.73
2014: $42.05
2013: $12.13
2012: $3.50

seems to play out alright (ignoring the volitile wobbles of a few ATH and just thinking of the lows of the years.)
so id say its a healthy estimate for a sustainable LOW value increase

Or it would be better to base your forecasts on past performance.

I believe it said $100,000 on 2021, and near Tim Draper's 250,000 prediction on 2020.

All the pieces of the puzzle fits! Cool

1Referee

legendary

Activity: 2170

Merit: 1427

Quote from: LeGaulois on September 22, 2018, 11:42:15 AM

$250k in 4 years by now is too much but I won't complain if it becomes a reality, trust me :p
But theory and practice are different. It's still a speculation and it will stay until proven.

By the time it is 2022 the price has gone up to such degree, that people won't even bother pointing him at his wrong prediction.

He can always say; well, the price didn't go up to $250,000 but we are at least above $100,000 which is fine as well, and everyone will agree with him.

Honestly speaking. I hope for the sake of Bitcoin that we won't reach $250,000 by that time. I prefer Bitcoin to be fundamentally ready and reflect being worth such figures before actually reaching them. Bitcoin as it is right now is not fundamentally ready. It will be eventually, but there is no need to rush things. Let's enjoy this journey, because this is the first and last one we'll ever be able to witness.

Quote from: LeGaulois on September 22, 2018, 11:42:15 AM

No idea why people don't call me Bitcoin analyst expert when I make such claims

You are an expert amongst a community full of other experts. Now happy? I'm still more expert than you though. I'm the expertest expert in existence.

LeGaulois

copper member

Activity: 2940

Merit: 4101

Top Crypto Casino

$250k in 4 years by now is too much but I won't complain if it becomes a reality, trust me :p
But theory and practice are different. It's still a speculation and it will stay until proven. No idea why people don't call me Bitcoin analyst expert when I make such claims

sunanbonang

jr. member

Activity: 242

Merit: 1

🚀🚀 ATHERO.IO 🚀🚀

this sounds impossible, tom lee said the price of bitcoin will reach $ 50k by the end of this year but the predictions made do not seem to happen. moreover now the bear market is still ongoing. honestly from that time alone no longer believe in predictions.

cellard

legendary

Activity: 1372

Merit: 1252

It's definitely doable. Remember that when people were calling $3k when we were at $1k, they were saying that was too optimistic. Next thing you know, we ended up at $20k by the end of the year against all odds.

People just don't realize that bitcoin is extremely tiny. It's just crazy how one single guy owns more than the entire marketcap (Jeff Bezos), this puts things into perspective. For a global world reserve currency anything but several trillions, at least similar to gold, it's just insanely undervalued, but people aren't wired to deal with big price increments, they will always think in linear terms and they will calling people that buy the dip lucky when it goes to the moon time after time.

davis196

hero member

Activity: 3164

Merit: 937

Quote from: franky1 on September 22, 2018, 01:12:05 AM

3 years hmm

$6k to $250k.. hmm

math time
if bitcoin is to stay at $6 this year
it only needs to *3.46681 each year
end of 2018 $6000
end of 2019 $20800.86
end of 2020 $72112.63
end of 2021 $250000.79

i think a ~3.466x price increase is normal, healthy and achievable after all if we done the same number historically
EG
lets take a conservative low of 2012 of just $3.50 and then yearly *3.466 it
2021: $252,653.36
2020: $72,894.79
2019: $21,031.39
2018: $6,067.91
2017: $1,750.70
2016: $505.11
2015: $145.73
2014: $42.05
2013: $12.13
2012: $3.50

seems to play out alright (ignoring the volitile wobbles of a few ATH and just thinking of the lows of the years.)
so id say its a healthy estimate for a sustainable LOW value increase

Bitcoin can triple it's price during the next three years only if:
1.All altcoins are destroyed and all crypto traders use bitcoin only.
2.China and India accept and adopt bitcoin on a massive scale.
3.Bitcoin got approved as an exchange traded fund (ETF).
4.USA and Europe become more bitcoin-friendly.
5.All the FUD stops.

Is any of the above things going to happen?I don't think so....

buwaytress

legendary

Activity: 2968

Merit: 3684

Join the world-leading crypto sportsbook NOW!

Oh great, only a quarter million in four years, "only" a 40x multiplication of US dollar price? So I'll still need to get 4 BTC by 2022 to be a millionaire? Tall order as it is at today's price. Probably progressively harder if price climbs in 2019, which it will have to if that target wants reaching.

I suppose it's still "more realistic" than McAfee's big million-dollar prediction.

Might be worth noting that all these estimates make sense if we only look at temporary ATHs. 250k might get hit, but we're likelier to see far lower constants and averages.

talkbitcoin

legendary

Activity: 1372

Merit: 1032

All I know is that I know nothing.

Quote from: exstasie on September 22, 2018, 03:09:47 AM

Bitcoin is prone to blow-off tops, so I'd agree it's a conservative estimate. I think the next wave will go considerably higher (into the millions), but it's impossible to predict. I also really wonder how long this kind of growth can sustain for.

i don't think we are ready for the millions price yet. and that would be such a gigantic rise and it is unlike bitcoin to have a rise THAT big. the next round would probably be another 10x rise to $100k levels then with a new bubble afterwards which would require correction.

exstasie

legendary

Activity: 1806

Merit: 1521

Quote from: franky1 on September 22, 2018, 01:12:05 AM

lets take a conservative low of 2012 of just $3.50 and then yearly *3.466 it
2021: $252,653.36
2020: $72,894.79
2019: $21,031.39
2018: $6,067.91
2017: $1,750.70
2016: $505.11
2015: $145.73
2014: $42.05
2013: $12.13
2012: $3.50

seems to play out alright (ignoring the volitile wobbles of a few ATH and just thinking of the lows of the years.)
so id say its a healthy estimate for a sustainable LOW value increase

Bitcoin is prone to blow-off tops, so I'd agree it's a conservative estimate. I think the next wave will go considerably higher (into the millions), but it's impossible to predict. I also really wonder how long this kind of growth can sustain for.

Quote from: jseverson on September 22, 2018, 02:26:28 AM

To be fair, he actually reiterated it because he was asked about it in an interview. Here's the source article with the interview itself:

https://www.thestreet.com/investing/bitcoin/tim-draper-reiterates-250000-dollar-bitcoin-price-target-14712907

It was actually pretty interesting, but of course the media focuses on his prediction lol. I didn't know he was able to buy Bitcoins off the Silk Road coins auction.

I think that's why people care about his prediction. In mainstream circles, he's viewed as a bit of a wacko. But bitcoiners love him because he bought into the bear market in 2014 (the SR auction) and then he predicted correctly that BTC would hit $10,000 by 2017.

jseverson

hero member

Activity: 1834

Merit: 759

Quote from: Pursuer on September 22, 2018, 01:26:13 AM

"stands by"? LOL.
it seems like news sites are running out of bullshit to publish so they sometimes start re-posting the same old news again. specifically since they move with the current and the current market current! is a rising one (even if it is a small one) so they started pulling out old news.
nothing has changed for predictions like this to change. $250k is still as possible as it was before. no more, no less. and it is mainly based on extrapolation of some data and based on history of bitcoin and its spikes.

To be fair, he actually reiterated it because he was asked about it in an interview. Here's the source article with the interview itself:

https://www.thestreet.com/investing/bitcoin/tim-draper-reiterates-250000-dollar-bitcoin-price-target-14712907

It was actually pretty interesting, but of course the media focuses on his prediction lol. I didn't know he was able to buy Bitcoins off the Silk Road coins auction.

Pursuer

legendary

Activity: 1638

Merit: 1163

Where is my ring of blades...

"stands by"? LOL.
it seems like news sites are running out of bullshit to publish so they sometimes start re-posting the same old news again. specifically since they move with the current and the current market current! is a rising one (even if it is a small one) so they started pulling out old news.
nothing has changed for predictions like this to change. $250k is still as possible as it was before. no more, no less. and it is mainly based on extrapolation of some data and based on history of bitcoin and its spikes.

franky1

legendary

Activity: 4410

Merit: 4788

3 years hmm

$6k to $250k.. hmm

math time
if bitcoin is to stay at $6 this year
it only needs to *3.46681 each year
end of 2018 $6000
end of 2019 $20800.86
end of 2020 $72112.63
end of 2021 $250000.79

i think a ~3.466x price increase is normal, healthy and achievable after all if we done the same number historically
EG
lets take a conservative low of 2012 of just $3.50 and then yearly *3.466 it
2021: $252,653.36
2020: $72,894.79
2019: $21,031.39
2018: $6,067.91
2017: $1,750.70
2016: $505.11
2015: $145.73
2014: $42.05
2013: $12.13
2012: $3.50

seems to play out alright (ignoring the volitile wobbles of a few ATH and just thinking of the lows of the years.)
so id say its a healthy estimate for a sustainable LOW value increase

oksgvardukraine2018

jr. member

Activity: 126

Merit: 5

Billionaire Tim Draper Stands By Bullish $250,000 Bitcoin Price Target For 2022
Tech billionaire Tim Draper stands by his bitcoin price target of $250,000 for 2022. Despite the recent slump, Draper remains undeterred in his enthusiastic outlook for the largest virtual currency by market cap.

“This is going to be so big, so if you see a dip [in prices], jump in,” Draper told TheStreet at the 2018 Crypto Finance Conference in Switzerland. “Maybe it will dip further, but boy, I made that prediction and I’m sticking to it. $250,000 by 2022 for bitcoin.”

After a massive spike in 2017, BTC prices tumbled 50 percent in 2018. Despite the recent bear market, crypto’s profile has never been higher, and the industry continues to expand.

‘Believe It, It’s Happening’
In April 2018, Draper generated countless headlines after boldly predicting that bitcoin would soar to $250,000 by 2022, as CCN has reported. And nothing has happened to change his outlook.

“They’re going to think you’re crazy, but believe it,” he said. “It’s happening and it’s going to be awesome!”

Draper has an impressive track record with predicting bitcoin price movements, so it’s hard to dismiss any forecast he makes.

In 2015, the venture capitalist accurately predicted that bitcoin would top $10,000 by the end of 2017. BTC soared above $13,000 on December 31, 2017.
https://www.ccn.com/billionaire-tim-draper-stands-by-bullish-250000-bitcoin-price-target-for-2022/

Topic: Billionaire Tim Draper Stands By Bullish $250,000 Bitcoin Price Target For 2022 (Read 442 times)